Dear readers, as of this time in writing, the Straits Times Index (STI) after being indecisive for a trading day has responded. The STI is down 0.85% at 3,160.22 and among the biggest STI constituent stocks losers, we have the two banks in Singapore: DBS down by 1.55% and OCBC stock down by 1.51%. To complete the picture, UOB stock is down by 0.72%. When we have the two worst STI performers in the generally more defensive banking stocks, I believe we are looking into a longer downtrend for Singapore stocks.
In recent months, I have been reading reports of how many Singaporeans who hold extra cash do the following:
a) invest more in stocks as overall interest rates by banks are low
b) invest more in Singapore properties
c) top up their CPF accounts
To me, if you are holding more cash now, the only logical thing is to save it for a rainy day. Build up an investment warchest and invest in the stock prices when many investors are fleeing from the markets. To me, Cash is King and you would want to be King when many do not want.
Hence, take note of the larger stock markets corrections coming.
I wish You and Your Family Stay Safe, Stay Healthy!
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